Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I am very aware of the challenge caused by the withdrawal of the existing loan products designed for students wishing to study medicine through the graduate entry route. Indeed, in recent days I met students in UCD to discuss the issue. Decisions regarding which loan products to offer are, of course, a commercial matter for the banks concerned. That is a statement of fact. However, I do understand from students who have written to me, those I have met in UCD and engagement with the relevant higher education institutions that the availability of such loans has been important in supporting people, particularly mature students, to study medicine. With that in mind I took the decision to write the institution in question. While noting that it is a commercial decision, I have highlighted the critical public policy considerations relevant to this loan product. I think it is particularly unfortunate that there was such an immediate cliff edge. I understand that it is entirely a commercial matter. However, it would have been extremely useful if, in making that commercial decision, a lead-in time had been provided, perhaps even a lead-in period of 12 months. A student thinking of pursuing graduate entry medicine in March, April or May would be presuming that the product would be in place. The fact that the product was pulled so quickly, and with immediate effect for the September 2022 entrants, is problematic. It has created a cliff edge that is unfortunate. While recognising that it is a commercial decision, I ask the bank to reconsider. At the very least, I ask the bank to consider if the cliff edge could be removed and a bit of time provided. I want a lead-in period provided in order that we can consider and put in place a range of policy and funding tools, from a Government point of view, to try to increase the supply of domestic medical graduates. I hope to be in a position to make an announcement to Government colleagues shortly on additional medicine places, as I referenced earlier. Looking forward, the recently published student grant scheme review identifies public policy questions regarding greater student grant support for graduate entry routes. There are significant policy, legislative and funding considerations, as well as wider implications, if the current treatment of graduate entry medicine is amended. However, we now have this review and all elements will be subject to consideration and prioritisation, alongside other cost of education measures, through the budget process. This will include consideration of the potential for additional supports for students of graduate entry medicine. We are looking at what we can do. I encourage the bank to provide more time and not create this immediate cliff edge.

See this speech in context